PRESS DIGEST- British Business - Feb 3

Feb 3 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Telegraph

GSK SEEKS TO MOVE ON FROM CHINA WITH PIPELINE UPDATE

GlaxoSmithKline plans to launch late-stage clinical trials on ten new drugs over the next two years and is expected to report that sales from China are under less pressure. ()

FIRMS FACE EU BLACKLIST IN BRIBERY LAW CHANGE

Companies and banks that fail to prevent financial crime by their staff could face vast fines and be blacklisted from European contracts under a change to the Bribery Act being considered by the British Government. ()

BWIN.PARTY CALLS EGM TO CLEAR PAY DEAL

Online gambling group bwin.party has outlined plans to award top executives up to 550 percent of their annual salary as some existing bonus plans have become worthless. ()

The Guardian

DISCOUNT RETAILER B&M PREPARES FOR A STOCK MARKET FLOTATION

B&M, a discount retailer set up in Blackpool with just 750 pounds in 1978, is preparing for a stock market flotation that could value it at 2 billion pounds ($3.29 billion). ()

In a special report published on Monday into the impact of rising house prices, the EY Item Club said the influx of super wealthy buyers has created bubble-like conditions in London. ()

The Times

LLOYDS VOWS TO RESTORE FEEL-GOOD FACTOR

Lloyds Banking Group has pledged to lend more than 1 billion pounds to small businesses and support more than 80,000 first-time buyers this year as part of an attempt to rebuild its reputation. ()

BAE STEPS UP CYBER CRIME FIGHT

Britain’s biggest defence group is cranking up recruitment in digital security to take on the growing threat from cyber criminals. About two fifths of BAE Systems’ British graduate intake this year is joining the company’s cyber security unit. ()